Examlex

Solved

If You Borrow $100,000 at an Annual Rate of 8

question 62

Multiple Choice

If you borrow $100,000 at an annual rate of 8.00% for a 10-year period and repay with 10 equal annual end-of-the-year payments of $14,902.95,then you have just repaid what type of loan?


Definitions:

Unemployment Rate

The share of the labor market that is unemployed and searching for a job actively.

Structural Unemployment

Joblessness caused by the restructuring of industries, often as a result of advancements in technology, rather than variations in market supply or demand.

Newspapers

Publications that contain written information on current events, features, and advertisements, often published daily or weekly.

Internet

A global network of interconnected computers and servers that facilitates the exchange of data and communication.

Related Questions